450 vs 15barrels a day claimed versus produced on one oil project
A Dallas promoter told investors an oil project produced more than 450 barrels a day when it produced under 15; he raised about $13.5 million from more than 300 investors and got 10 years.
He also withdrew investor money from escrow long before the 80% of the offering he had promised was raised.
Source: U.S. Attorney's Office, Northern District of Texas. Read more: oil and gas investment fraud · case file